Willamette World News

Willamette World News

RSS Feed for This PostCurrent Article

Economic crises in the US and globally

In this article I am going to give the reader a wide range of news of how the economic crisis in the USA is shown in the rest of the world and how it affects the other stock exchanges in other countries.

In the last 3 months especially we started hearing about the crisis in the US economy and some banks going to bankrupt, which was something that some people were worried about but most of them didn’t pay much attention to that.
Three weeks ago when the US national treasury absorbed a group of banks, controlling a big percentage of them the situation started to change, front papers in the newspapers, all the news and everywhere. Why was it a big deal? this stage in the economy was a big change in the policies of Bush administration and also because the last time something similar happened was in 1929 after Wall Street collapse.
Immediately was in all the news all around the world, analysts and specialists analyzing the situation and how it could affect the local economies. Meanwhile in the USA many civilians were still denying the problem, saying that nothing was going on.
The following week the stock exchange lost 7 points, and was the fifth biggest lower since the 40’s, against something to worry about. Also because affected the biggest stock exchanges in the world like Paris, Tokyo, London.
In Argentina was a boom not because it affected in a considerable way the stock exchange, but it was on the news. Many of my friends were asking me about the crisis here (in USA) and I was saying that you don’t see immediate consequences of that, but it’s a big problem, many companies downsized their labor force, the inflation growing; I think people should take this seriously because it is different of what happened during other crisis, but we will notice the effects in a short future.
That’s why the candidates during the debates are mainly focused on this matter.

Trackback URL

Sorry, comments for this entry are closed at this time.